Second Mortgage

You may get some leads online but then where else you must look?  

If you are a loan officer with a mortgage company then you will know that the hardest thing about my job is getting in contact with interested customers.

First, you should check the disclosures on the leads you get from your lead company. Does your company have a Do Not Call program in place? If not you should ask. You have selected a wonderful career field. You are pretty much on your own to earn as much as you want and be as successful as you can.

Sitting in the office with the other loan officers will not accomplish that for you.

You have to come up with a marketing plan that will get you clients without depending on others. So let’s take a look at how to do this: you can advertise in the local paper stating that you do loans, you can mass mail to the city in which you reside or want to do business in and you can buy leads from a lead generating company.

These leads normally cost upward from $25.00, however you must purchase in bulk of 100 or more at one time or over time. You may do cold calling, but then there is that nasty Do Not Call List. And you can select an area of your city or place you want to do business in and concentrate your efforts in that area.

You have a wonderful job, get off your duff and make your own list and get potential clients. Get into the neighborhood, meet the people that need loans, want to purchase homes, have friends and neighbors that want to do the same. The only reason they don’t recommend you is because they don’t know you do loans. If they knew you or had information about you they might recommend you.

You should select an area of your city that you wish to work. Walk the area for about 3-4 weeks placing fliers on the doors of your potential clients. Talk to anyone you find outside.Get their name and email address you are already standing in front of their house so write the address down.

On your fliers you want to tell your potential clients who you are, what it is you do,and what you want to do for your potential clients. You might also give a little bio of yourself, such as schools attended, marital status, number of children and number of years you have been in this business.

Go to the commercial stores in this area and leave your fliers. You will find flyer holders at Staples or Office Depot. After you have walked this neighborhood for 3-4 weeks, make a newsletter indicating again what programs you have available.

You may use articles from the internet, newspapers, magazines and other media outlets as long as you give the author credit. Mail your newsletter out monthly.

Remember the commercial people you have gotten to know you might ask if they want to advertise in your newsletter, since it will be going to the surrounding neighborhood. You might charge them about $50.00 per ad and they have to sign up for 3 or 6 months at one time.

Now you will need a professional team to assist you. You surround yourself with an attorney, a mortgage broker or real estate agent, a home owners insurance agent, a notary public, a title rep, an appraiser and others in a profession you think might help you be successful. You may add or take away from the list as you see fit.

If you are a mortgage broker or loan consultant don’t forget to help the FSBO in your area. Give them support by assisting them with open houses, assisting in setting up an escrow closing agent, a title company and other services they will need.

You should be available at all open houses to pre-approve those that are looking at the house and are not pre-approved. Get compts for them to assist in coming to a good sales price, get your appraiser to assist in this also.